Broadcom Inc. saw its shares decline by 0.7% during midday trading on Tuesday due to insider selling activity. Mark David Brazeal sold 2,500 shares, and director Justine Page sold 254 shares. In the past 90 days, insiders sold 12,864 shares valued at $17,251,391. Analysts have given Broadcom a positive rating, with a price target increase. The company will undergo a stock split on July 15.
Broadcom reported strong quarterly results on June 12, with earnings of $10.96 per share, exceeding expectations. The company’s revenue also increased by 43.0% year-over-year. Dividend payments and institutional investor activity have been notable in recent months.
Overall, analysts are optimistic about Broadcom’s performance and growth potential. The company’s stock split and strong financial results indicate a positive trajectory for Broadcom in the market.
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https://www.defenseworld.net/2024/06/26/broadcom-nasdaqavgo-shares-down-0-7-after-insider-selling.html